4+% CAGR Growth For X-Band Radar Market To Register $US 5.61 Billion by 2021

The X-band radar market is estimated to be USD 4.58 billion in 2016 and is projected to reach USD 5.61 billion by 2021, at a CAGR of 4.1% to 2021 while North America is projected to be the largest market for radar systems market.

The emergence of electronic and network centric warfare, replacement of legacy systems resulting in the automation of radar systems, territorial conflicts and geopolitical instabilities in the Middle East and Asia-Pacific regions, and sea-based X-band radars are driving the demand for the X-band radar across the globe.

The key applications considered for the market study are government, defense and commercial. The X-band radar market is dominated by the defense application segment during the forecast period. It has been witnessed that most of the nations are giving immense importance to border security in recent years. Increased investments by various governments in the defense sector have led to the rapid growth of the X-band radar market in the defense application.

Complete report on X-band radar market spread across 163 pages, profiling 11 companies and supported with 91 tables and 62 figures is now available at http://www.rnrmarketresearch.com/x-band-radar-market-by-type-portable-non-portable-application-defense-government-commercial-global-forecasts-trends-analysis-to-2015-2020-market-report.html .

North America is estimated to capture the largest market share in the overall X-band radar market in 2016. North America-based key players, such as The Raytheon Company (U.S.) and Northrop Grumman (U.S.) operating in the X-band radar market have prompted the improvement of the latest radar system technologies to improve detection capabilities, surveillance duration & resolution, incoming projectile defense capabilities, base & area protection capabilities, and early warning system capabilities of various types of military aircraft, naval vessels, and ground-based forward forces.

The market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the increasing defense expenditure of major economies (China, India, South Korea and Australia), increasing investment in missile defense systems in the region, primarily as part of their modernization programs as well as for advanced counter-terrorist operations.

Technological advancements in the X-band radar, and the development of radar systems such as the Polarimetric radar, Long Range Discrimination Radar (LRDR), electronically scanned array radar, solid state transmitters, advanced materials, synthetic aperture X-band radar, and compact and light–weighted radar are creating growth opportunities for market players in the global X-band radar market.

In 2016, the key global players in the market were SaaBAB (Sweden), Japan Radio Company Limited (Japan), Furuno Electric Company, Ltd. (Japan), and Terma A/S (Denmark) among others. These companies adopted growth strategies such as new product launches, supply contracts, and business acquisitions to capture a majority share in the growing X-band radar market. Among these, SaaB AB (Sweden) has a widespread geographic presence in the global X-band radar market. A corporate discount is available on this report at http://www.rnrmarketresearch.com/contacts/discount?rname=394298 .

Break-up of profile of primary participants of the X-band radar report:

>By Company Type - Tier 1 – 30 %, Tier 2 – 35% and Tier 3 – 35%.
>By Designation – C level – 32%, Director level – 38%, others – 30%.
>By Region – North America - 27%, Europe – 18%, APAC – 46%, RoW – 9%.

On a related note, another research on Radar Systems Market Global Forecast to 2021 says, the radar systems market is projected to grow at a CAGR of 5.39% during the forecast period of 2016 to 2021. The defense segment is estimated to lead the radar systems market in 2016. North American region contributed the largest share to the radar systems market. Companies like Lockheed Martin (U.S.), Rockwell Collins (U.S.), Saab Group (Sweden), and BAE Systems (U.K.), Rheinmet all AG (Germany), and General Dynamics (U.S.) have been profiled in this 182 pages research report available at http://www.rnrmarketresearch.com/radar-systems-market-by-technology-cw-radars-pulsed-radars-application-defense-commercial-range-short-long-medium-component-antenna-receiver-transmitter-frequency-band-l-x-c-s-and-region-glo-st-to-2021-market-report.html .

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